The Scottish Government will receive around £295 million additional funding through the Barnett formula, on top of the additional £1.4 billion it has received through its operation since its record £41 billion per year settlement at Spending Review 2021.
The hospitality sector is urging the Scottish government to use the additional funds to support Hospitality.
Leon Thompson, Executive Director of UKHospitality Scotland, said: “With support for business the glaring omission from the Scottish Budget, it’s imperative that the additional £300 million in funding for the Scottish Government is used to support hospitality.
“Our sector is the beating heart of Scottish culture and a major part of our tourist offer on the world stage – we can no longer afford to lose businesses at the rate we currently are.
“Having lost more than 1,300 businesses in Scotland since the start of the pandemic, business rates relief on par with what is being offered to English businesses is essential and I would urge the Scottish Government to implement that as a matter of urgency.
“Without it, our sector will remain at a significant disadvantage to our competitors in England and Wales. This will only risk further business closures and be detrimental to our ability to drive economic growth, create jobs and serve our communities.”
